Datawest trims 50 positions from staff

Datawest trims 50 positions from staff
Tags: Software
August 8, 2002

VANCOUVER, British Columbia -- Banking technology solutions provider Datawest Solutions Inc. (TSX: DS) reduced its workforce by 50 positions on Aug. 9, trimming the staff to 278 in order to streamline its operations and improve near-term profitability.

Datawest officials did not say what segments of the business were affected by the staff cuts.

"The reductions are a necessary step toward sustained growth of the company," Anthony Martin, Datawest president and chief operating officer, said in a news release.

The staff reduction comes a week after the company reported a loss of $303,384 on revenue of $11.7 million for the second quarter ending June 30 (See story: Datawest earnings improve in 2Q).